Payment facilitators (PayFacs) provide embedded payments solutions alongside a range of other payments acceptance tools. Marketplaces and independent software vendors (ISVs) are increasingly embracing embedded payments options to help them monetize new revenue streams, deepen customer engagement and grow entirely new lines of business. However, these players must navigate both heightened economic uncertainty and complex regulatory and compliance requirements in their quest for innovation.
In collaboration with Carat from Fiserv, PYMNTS Intelligence’s latest study shows that economic conditions are the most worrisome challenge for PayFacs, ISVs, and marketplaces alike. It also reveals contrasting priorities in the rapidly evolving retail payments space.
Inside the report:
- 30%: Portion of retail ISVs that cite customer experience as the most important innovation driver
- 19%: Share of retail PayFacs that say systems integration is their biggest innovation hurdle
- 40%: Portion of retail marketplaces that rate operational enhancement as their top innovation agenda
These are just some of the findings detailed in the Embedded Payments and the Retail Innovation Agenda report. This edition examines the state of play for PayFacs, ISVs, and marketplaces in the retail sector, explores the innovation strategies and challenges these players face, and draws on insights from a survey of 282 executives.
To learn how Embedded Payments from Carat can help your business modernize money movement and turn payments from cost centers to revenue drivers, contact a Carat expert today.
